Amazon founder Jeff Bezos, one of the richest men in the world, recently revealed that despite his huge fortune, his annual salary at the company remained stagnant at $80,000 (about Rs 67 lakh) for many years. Bezos, who is currently worth about $241 billion, said his base salary also has not changed since 1998.

In an interview with The New York Times, Bezos explained that his decision to keep the salary low was intentional. “I was the founder,” he said, adding that he already owned a large portion of the company and didn’t feel comfortable taking more compensation.

He revealed that his financial motivation came from his large stake in Amazon, which made the additional salary unnecessary. Although his official salary was modest, Bezos made millions from his shares in Amazon. According to a report by Inc.com, between 2023 and 2024 alone, he made $8 million per hour, largely due to the value of his stock. He emphasized that ownership of more than 10 percent in the company was incentive enough. “How could I possibly need more encouragement?” He commented.

Since stepping down as CEO in 2021, Bezos has gradually sold off portions of his Amazon stock. A report from Fortune suggests that they plan to sell 25 million shares by the end of 2025. Nevertheless, Bezos asked Amazon’s compensation committee to refrain from giving him any additional benefits. Expressing pride in this decision, he said that he would have felt uncomfortable taking more compensation.

Bezos’ approach to keeping salaries low had some big financial implications, especially when it came to taxes. According to a 2021 review by ProPublica, Bezos paid no federal income taxes in 2007 and 2011. The review, which analyzed decades of IRS data on America’s richest people, found that they reported investment losses that exceeded their salaries, which helped them avoid taxes during those years. ,

This practice of earning less in official salary while benefiting primarily from stock ownership is not uncommon among billionaires, and often results in lower tax obligations. Critics have argued that the ultra-rich take advantage of such strategies to pay less in taxes, leading to an ongoing debate about tax fairness.

However, Bezos defended his stance, pointing out that his wealth from Amazon stock already provided him with enough incentive. His decision to forgo additional financial gain was a reflection of his sense of responsibility as the company’s founder, he said.